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OKX, a cryptocurrency exchange, has announced that Pi Coin will be listed under an isolated listing mode in advance of its Mainnet launch on February 20, 2025. This listing mode may restrict access in specific countries where users have actively mined the cryptocurrency.
The decision escalated the discussion regarding the anticipated date of Pi Coin’s listing on public exchanges. The restrictions on the cryptocurrency were a component of the requirements established by Pi Network, as per OKX. The exchange implies that mainland China will likely be subject to this restriction, as the piece of information regarding restricted countries is ambiguous.
Investors who have been waiting for years to find liquidity for their Pi holdings are dissatisfied by the fact that users in restricted regions are unable to conduct Pi Coin transactions due to these limitations. The community’s members are expressing their dissatisfaction with the restrictions, which they claim contradict the initial promises made regarding project inclusion.
Concerns Over Pi Network’s Approach
Industry experts have continued to scrutinise the move to implement an isolated listing mode for Pi Network, which has garnered negative attention. The social media user “FOMO HUNTER” posted on X (formerly Twitter) to emphasise the potential impact on market liquidity and caution traders to exercise caution during this time.
The accusations that Pi Network is a fraud have been resurfaced as a result of the project development delays and the lack of project transparency, which have repeatedly prompted these claims.
Critics have expressed growing scepticism regarding Pi Network due to the combination of rigorous know-your-customer (KYC) verification requirements, unclear project updates, and extended development delays. The project’s increasing market interest has led industry experts to question the absence of tier-1 cryptocurrency exchanges listing the coin.
The CEO of ByBit recently made headlines when he declined to list Pi Coin, stating that it was “the last thing he wants to deal with.” This decision raises further questions about the project’s legitimacy. The proactive statements from OKX regarding regional access restrictions have exacerbated scepticism regarding the validity of Pi Network.
Pi Coin’s Market Reaction
The PI [IOU] price increased above $93 following the announcement of Pi Network’s Open Network launch on February 12. However, the price has since decreased substantially in response to the increasing apprehensions regarding its listing and accessibility. At this time, Pi Coin is trading at $61.28, which indicates an abrupt decline.
Pi Network has not yet responded to OKX’s assertion that the listing restrictions were established by the initiative itself. The cryptocurrency community remains divided regarding the long-term viability of Pi Coin and its future as the Mainnet launch approaches.
